1. Field of the Invention
The present invention generally relates to a method and apparatus for a remote interactive point access financial and information system implemented to provide an integrated platform of services including videoconferencing, a customized automated teller machine (ATM) and commercial depository. The system provides a full service virtual bank to a customer and enables transactional engagement, remotely, on a demand basis at high levels of availability, preferably, seven days a week, 24 hours a day. Specifically, the videoconferencing unit is integrally implemented to provide real-time, face-to-face sessions with a bank representative based on audio-visual communications and interface remotely initiable by the customer. More specifically, the system enables the customer to access and execute all major transactions on a demand basis including withdrawals, deposits, loans and investment information and further serves as a medium for information from multiple sources.
2. Description of Related Art
The use of a remotely installed access banking center (ABC), such as an ATM, is well known in the prior art. Particularly in the last decade, ATMs have evolved as a preferred center for consumers to remotely withdraw monies and execute specialized deposits. While each ATM is tailored to comply with certain marketing and service objectives of the proprietary institution the structural organization including the technology of ATMs remain generally familiar and unchanged.
It is well known that commercial banks operate in a highly competitive environment. The popularity of ATMs has prompted a proliferation of remote services including small staff offices located in strategic consumer-frequented forums such as supermarkets, theaters, shopping malls, airports and similar locations. These small offices operate as extensions of the main office and serve customers on site to execute various transactions which are not normally handled by an ATM. Accordingly, the competitive imperatives and consumer preferences impose an increasing demand to access the full service of a personal bank, on a year round 24-hour basis, at a remote location. In this regard, the small extension offices are not only limited in number, availability and the type of services they could provide but are also labor intensive and not conducive to a broad network and universal distribution of remote ABCs.
There is a paradigm shift in remote banking services. This is primarily driven by technology and customers' preference to execute personal banking and financial transactions at a place close, for example, to their residence, work place, shopping, entertainment and or travel location. High speed digital communications including advances in data, image transfer/exchange and the internet have empowered customers to have virtual access and command of their bank and investment accounts. A more likely future development is to enable customers to have remote access to a full banking service via the internet. Yet another likely future development may include the use of a digital cellular phone which incorporates a modem and a PC function to remotely access full banking services and may be a feasible medium for remote video teleconferencing.
While some of these developing technologies are set to change the nature of personal banking services, current methods remain for the most part limited to ATMs and low level technology-based peripheral services. For example the only current method for a user/customer to access account information or to make a transaction, is to call the bank via a phone or to use Infobank.SM..
Accordingly, there is a need to provide a remote banking station with comprehensive features to enable timely and efficient access for customers to banking services including provision of information on investment and related products.